Laos vehicles sales is one of new fastest growing in South Asia, following the rapid development of the economy. The car park is growing each year with an impressive speed, while the quota related to the new vehicles changes accordingly with the policy applied towards the import of used vehicles.
The Covid-19 pandemic and associated lockdown will have dealt a notable blow to the economy in H1, hammering the tourism, transport and services sectors.
Due to the nationwide lockdown as well as border closures, the industrial and tourism sectors are set to be severely hit in H1. On a more positive note, the state airline announced it will reopen its domestic routes on 22 May, which should help gradually restart activity.
Moreover, China’s Chifeng Jilong said it will resume gold production at Sepon mine for the first time in over six years, thanks to the recent spike in gold prices, while the government is pushing ahead with the Mekong River hydropower project.
Following the rapid development of the market in the years immediately after the end of dictatorship, in the last three years the Laos new vehicles market was steady although fast growing economy.
In the last years the market reached the level of 20.000 units (only cars registered for the first time) and is not growing although the potential could be over the 50.000, due to the still high import of fresh used vehicles, arriving from Japan and from the other countries within the ASEAN region.
Sales in the 2019 have been 21.079.
During the first months of 2020, the market demand was week and the shutdown applied between the end of March and mid May blocked sales. However data for the second half of May were very positive projecting the market to a fast recovery within the rest of the year.
Tables with sales figures
In the tables below we report sales for top Brands